Swisscom has formally notified the Italian Competition Authority (ICA) of its intended acquisition of Vodafone Italia, as announced on March 15, 2024. This notification is a crucial step in obtaining the necessary regulatory approvals for the takeover, which is currently on track, according to the Swiss telco.
Swisscom secured financing for the €8 billion purchase price in May and has already received unconditional approval from both the Presidency of the Council of Ministers in Italy (Golden Power legislation) and the Swiss Competition Commission. While the transaction is still subject to additional regulatory approvals, Swisscom anticipates closing the deal in Q1 2025.
"We are pleased to have received the unconditional approval from the Italian Golden Power legislation and the Swiss Competition Commission," said Urs Schaeppi, CEO of Swisscom. "This is a significant milestone for the transaction and we are confident that we will obtain the necessary regulatory approvals to complete the acquisition of Vodafone Italia. We are committed to building a strong and competitive telecommunications business in Italy."